PRA 2017/21
PRA RULEBOOK: CRR FIRMS: OPERATIONAL CONTINUITY REPORTING INSTRUMENT 2017
Powers exercised
A. The Prudential Regulation Authority (“PRA”) makes this instrument in the exercise of the following
powers and related provisions in the Financial Services and Markets Act 2000 (“the Act”):
(1) section 137G (The PRA’s general rules);
(2) section 137T (General supplementary powers);
B. The rule-making powers referred to above are specified for the purpose of section 138G(2) (Rulemaking instruments) of the Act.
Pre-conditions to making
C. In accordance with section 138J of the Act (Consultation by the PRA), the PRA consulted the
Financial Conduct Authority. After consulting, the PRA published a draft of proposed rules and
had regard to representations made.
PRA Rulebook: CRR Firms: Operational Continuity Reporting Instrument 2017
D. The PRA makes the rules in Annex A to C of this instrument.
Commencement
E. This instrument comes into force on 1 January 2019.
Citation
F. This instrument may be cited as the PRA Rulebook: CRR Firms: Operational Continuity Reporting
Instrument 2017.
By order of the Prudential Regulation Committee
25 April 2017
PRA 2017/21
Annex A
Amendments to the Regulatory Reporting Part
In this Annex, new text is underlined and deleted text is struck through.
1
APPLICATION AND DEFINITIONS
…
1.2
In this Part, the following definitions shall apply:
…
operational continuity firm
means a firm to which the Operational Continuity Part applies.
…
2
REPORTING REQUIREMENTS – DATA ITEMS
…
2.9
An operational continuity firm must also submit data items as required by Chapter 21.
…
16
DATA ITEMS AND OTHER FORMS
…
16.43
PRA109 can be found here.
…
21
OPERATIONAL CONTINUITY REPORTING
21.1
This Chapter applies to an operational continuity firm.
21.2
An operational continuity firm must submit to the PRA annually (on a calendar year basis),
within 45 business days after the end of the calendar year, the completed data item PRA109.
PRA 2017/21
Annex B
Amendments to the Operational Continuity Part
In this Annex, new text is underlined and deleted text is struck through.
1.
APPLICATION AND DEFINITIONS
…
1.5
In this Part, the following definitions shall apply:
…
critical services
means activities, functions or services performed for one or more business units of
the firm or for the firm and another member of its group, whether by the firm itself, any
other group member or a person outside the firm’s group, the failure of which would
lead to the collapse of or present a serious impediment to the performance of the
firm’s critical functions.
…
group provider
in relation to a firm, means
(1) a member of its group that provides critical services to it; or
(2) the firm itself if one of its business units provides the critical services to it.
…
PRA 2017/21
Annex C
Amendments to the Glossary
In this Annex new text is underlined:
…
critical services
means activities, functions or services performed for one or more business units of
the firm or for the firm and another member of its group, whether by the firm itself, any
other group member or a person outside the firm’s group, the failure of which would
lead to the collapse of or present a serious impediment to the performance of the
firm’s critical functions.
…
group provider
in relation to a firm, means
(1) a member of its group that provides critical services to it; or
(2) the firm itself if one of its business units provides the critical services to it.
…